Business Money News

Cannabis Stocks are a Sea of Red as Selloff Stretches to 6th Straight Day

MarketWatch photo illustration/iStockphoto

Aurora Cannabis tumbles 9% in continued fallout from disappointing earnings, MedMen slammed by news of job cuts

Cannabis stocks were a sea of red again on Monday, with Aurora Cannabis tumbling another 15% following disappointing earnings and MedMen down 23% on news of job cuts and asset sales.

The ETFMG Alternative Harvest ETF MJ, +1.93% was last down 4% with 26 of its 36 member stocks trading lower. The ETF has fallen for six straight days and is now down 35% in the year to date.

The Horizons Marijuana Life Sciences ETF HMMJ, +2.61%  was down 5%, with 48 of its constituent stocks declining. The S&P 500 SPX, +0.02%  was up 0.1% and the Dow Jones Industrial Average DJIA, -0.21%  was up about the same.

To Read The Rest Of This Article By Ciara Linnane on MarketWatch

Published: November 19, 2019

Deputies Raid Marijuana Grow Operation in Lake Elsinore
Jim Beam Heir Enters Cannabis Industry to end ‘Prohibition 2.0’
MedMen Real Estate Assets Seed New Investment Vehicle

Leave Your Reply